FCA speech on managing cyber-security threats

An FCA speech by Nausicaa Delfas, the FCA Executive Director, has been published which addresses the steps firms can take to tackle cyber-security threats. The speech summarises the financial services sector's most prominent cyber-security threats, including distributed denial-of-service (DDOS) attacks and the risk of "ransomware" which is malicious software installed onto firms' networks.

FCA, 24 April 2017

FCA finalised guidance on fair treatment of mortgage customers in payment shortfall and impact of automatic capitalisation

Finalised guidance on the fair treatment of mortgage customers in payment shortfall (also known as arrears) and the impact of automatic capitalisation (FG17/4) has been published by the FCA. The guidance will help set out a remediation framework for customers who have suffered harm because of automatic capitalisation of payment shortfall, as the FCA is concerned that this practice can lead to unfair outcomes for customers.

FCA, 24 April 2017

Second Upper Tribunal reference concerning third party rights under FSMA withdrawn

The Upper Tribunal (Tax and Chancery Chamber) has published an updated table of its financial services hearings and register of cases. The update indicates that tribunal reference FS/2014/0006, Javier Martin-Artajo v FCA (dated 12 March 2014), which concerns third party rights under section 393 of the Financial Services and Markets Act 2000 (FSMA), has been withdrawn.

Upper Tribunal (Tax and Chancery Chamber), 21 April 2017


AFME publishes MiFID II fixed income and currencies trading venues questionnaire

A questionnaire providing a standardised set of questions that can be sent by MiFID II investment firms to trading venues has been published by the Association for Financial Markets in Europe (AFME), and a related webpage.

AFME, 24 April 2017